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Germany Inflation February 2024

Germany: Harmonized inflation decreases in February

Harmonized inflation dropped to 2.7% in February from January’s 3.1%, one of the lowest levels since H1 2021 and in line with market expectations. The slowdown was largely due to a smaller rise in food prices. Meanwhile, energy prices continued to decline, albeit at a softer pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 5.0% in February (January: 5.5%). Meanwhile, consumer price inflation fell to 2.5% in February, from the previous month’s 2.9%.

Lastly, harmonized consumer prices rose 0.55% over the previous month in February, swinging from January’s 0.16% fall. February’s result was the highest reading since April 2023.

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